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Rights and Responsibilities as a Student Consumer
Students have the right to:
- Know what financial assistance is available, including information on federal, state, and institutional programs.
- Know the deadlines for submitting an application for each of the financial aid programs available.
- Know the cost of attending the institution and the school’s refund policy.
- Know the criteria used by the institution to select financial aid recipients.
- Know how the school determines financial aid need.
- Request from the Financial Aid Office an explanation of the various programs in your student financial aid package.
- Know what portion of the financial aid you receive must be repaid and what portion is grant aid.
- Appeal decisions of the Director of Financial Aid to the Student Financial Aid Committee.
It is your responsibility to:
- Complete all application forms accurately and submit them on time to the right place.
- Pay special attention to and accurately complete your Financial Aid Application. Error can result in a long delay in your receipt of financial aid. Intentional misreporting of information on the application form for financial aid is a violation of the law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
- Return all additional documents, verifications, corrections, and all new information requested to the Financial Aid Office, or to the agency to which you have submitted your application.
- Read and understand all forms that you are asked to sign and keep copies of them.
- Accept responsibility for all agreements you sign. If you have a loan, notify the lender of all changes in your name, address, social security number, or school status.
- Sign appropriate promissory notes.
- Complete entrance and exit interviews if you have a loan.
- Repay any loan in accordance with the repayment schedule.
- Notify the lender of any occurrence which may affect your eligibility for a deferment of repayment.
- Come to the Financial Aid Office during registration to receive your work-study assignment.
- Perform the work that is agreed upon in accepting a Federal Work Study award.
- Know and comply with Belmont Abbey College’s refund and repayment procedures.
Conditions of Financial Aid Awards
The Financial Aid Office reserves the right to review and cancel an award due to changes in financial standing, academic status, or failure to observe reasonable standards of citizenship.
- Students receiving financial aid must maintain satisfactory academic progress according to the standards and practices of Belmont Abbey College.
- Any commitment of federal or state funds is tentative and contingent upon subsequent congressional or legislative appropriation and actual receipt of the funds by Belmont Abbey College.
- Recipients of financial assistance from Belmont Abbey College are to notify the Financial Aid Office concerning any other scholarships, loans, or employment (as pertains to Federal Work Study) extended to them from any source prior to acceptance of such other aid.
- Students receiving financial aid who withdraw from BAC must notify the Financial Aid Office. All financial aid awards are subject to BAC refund policy
- Federal Work Study awards enable students to be employed on campus and receive an hourly wage for actual hours worked. Money earned is to allow the student to meet personal expenses and is not intended to pay tuition costs.
- Students must re-apply for financial aid each academic year. The recommended application due date is April 1 of each year. Applicants meeting this date will be given priority consideration. To meet this suggested date, the student should submit the financial aid application by March 1 to allow time for processing.